Highlights
- SimonCRE paid $3,783,200 on May 12 for a 10-acre site in Surprise at the southeast corner of Sarival Avenue and Waddell Road.
- The seller was Land Reserve Inc., a real estate arm of the Church of Jesus Christ of Latter-day Saints.
- The 98,000-square-foot outdoor center, called Prasada East, will be anchored by a Whole Foods store with additional upscale retail and restaurant tenants.
- SimonCRE is already developing the adjacent Village at Prasada power center, a 700,000-square-foot project within the same 3,355-acre master-planned community.
SimonCRE paid $3,783,200 on May 12 for a 10-acre parcel at the southeast corner of Sarival Avenue and Waddell Road in Surprise, where the Scottsdale-based developer plans to build a Whole Foods-anchored outdoor shopping center targeting upscale tenants and specialty retailers.
The seller was Land Reserve Inc., formerly known as Suburban Land Reserve Inc., the real estate arm of the Church of Jesus Christ of Latter-day Saints. The project, called Prasada East, will total 98,000 square feet. SimonCRE says it plans to break ground soon on the first phase, according to a statement cited by KTAR and the Phoenix Business Journal.
The acquisition extends SimonCRE's position inside Prasada, a 3,355-acre master-planned community in Surprise that also includes medical services, hospitality, residential, and employment components. The developer is already building Village at Prasada, a 700,000-square-foot retail power center on the same master plan. Phase One of that project launched in December 2021 with more than 330,000 square feet; tenants include TJ Maxx, HomeGoods, Marshalls, Ulta, PetSmart, Sprouts Farmers Market, and O.H.S.O. brewery.
SimonCRE has been active across Surprise. In December 2023, the firm acquired 44 acres for $7.4 million to develop retail at the Asante Trails mixed-use project, partnering with Jim Stockwell Jr. of Clyde Capital LLC through Asante Trails Retail Partners LLC. That 100-acre development will be anchored by a 20-acre HonorHealth hospital and include office, multifamily, and neighborhood retail.
Who is selling the land?
The seller, Land Reserve Inc. (formerly Suburban Land Reserve Inc.), is the real estate holding arm of the Church of Jesus Christ of Latter-day Saints and has been a significant land holder across the Prasada master plan. The recorded deed names the entity as the grantor on the May 12 transaction.
Groundbreaking on Prasada East's first phase is targeted for the near term; no opening date for the Whole Foods store has been disclosed in public filings.
Where to find them
- Land Reserve Inc · business.theosceolachamber.com · Instagram · Facebook · X
- Suburban Land Reserve Inc · unicourt.com · Instagram · Facebook · X
- Clyde Capital LLC · procore.com · Instagram · Facebook · X
Sources
Every factual claim in this article traces to one of the sources below. See how we work for the editorial process.
- ktar.com retrieved 18/05/2026 11:52
- blog.simoncre.com retrieved 18/05/2026 11:52
- blog.simoncre.com retrieved 18/05/2026 11:52
- Land Reserve Inc (official site) retrieved 18/05/2026 11:52
- Suburban Land Reserve Inc (official site) retrieved 18/05/2026 11:52
- Clyde Capital LLC (official site) retrieved 18/05/2026 11:52
Authored by The Scottsdale Signal. Drafted by AI from primary-source material under our beat-specific editorial guides; reviewed by humans before publish under our five-gate process. Sources retrieved at 18/05/2026 11:52. Every claim traces to a source.
